Bank Lets Customers 'Tweet' Money to One Another
French bank Groupe BPCE is teaming up with social network Twitter to allow its customers to transfer money via tweets.
Starting in October, all Twitter users in France ? irrespective of their bank ? will be able to simply 'Tweet' money to one another thanks to the S-money service developed by Groupe BPCE.
The bank's S-Money service allows money transfers via text message and relies on the credit-card industry's data security standards.
Everyone with a bank card and a Twitter account in France will be able to send money to other users easily and free of charge with a simple Tweet. This service has been developed by S-money, the electronic money subsidiary of Groupe BPCE that provides an electronic wallet solution on mobile phones.
"This initiative is a good example of our innovation strategy regarding payments. Groupe BPCE is the first banking group to offer individuals a payment solution where they can transfer money with a simple Tweet. This S-Money initiative opens up a whole new range of payment possibilities on the social networks," said Jean-Yves Forel, Groupe BPCE Chief Executive Officer responsible for Commercial Banking and Insurance
For Nicolas Chatillon, CEO of S-Money, "the ease of use and immediacy of the S-Money payment solution for individuals is perfectly adapted to the Twitter user experience. It offers Twitter users in France a new way to send each other money, irrespective of their bank and without having to enter the beneficiary?s bank details, with a simple Tweet. We plan to make this new service available to the general public in early October."
A preview of the new service is available upon registration on http://s-money.fr/twitter.
Twitter is racing other tech giants Apple and Facebook to get a foothold in new payment services for mobile phones or apps.
BPCE and Twitter declined to provide further details ahead of a news conference in Paris on Tuesday to unveil the service.
Rakuten Bank in Japan offers a similar "Transfer by Facebook" service that lets users of its mobile banking app send money to anyone in their Facebook friends list.
The bank's S-Money service allows money transfers via text message and relies on the credit-card industry's data security standards.
Everyone with a bank card and a Twitter account in France will be able to send money to other users easily and free of charge with a simple Tweet. This service has been developed by S-money, the electronic money subsidiary of Groupe BPCE that provides an electronic wallet solution on mobile phones.
"This initiative is a good example of our innovation strategy regarding payments. Groupe BPCE is the first banking group to offer individuals a payment solution where they can transfer money with a simple Tweet. This S-Money initiative opens up a whole new range of payment possibilities on the social networks," said Jean-Yves Forel, Groupe BPCE Chief Executive Officer responsible for Commercial Banking and Insurance
For Nicolas Chatillon, CEO of S-Money, "the ease of use and immediacy of the S-Money payment solution for individuals is perfectly adapted to the Twitter user experience. It offers Twitter users in France a new way to send each other money, irrespective of their bank and without having to enter the beneficiary?s bank details, with a simple Tweet. We plan to make this new service available to the general public in early October."
A preview of the new service is available upon registration on http://s-money.fr/twitter.
Twitter is racing other tech giants Apple and Facebook to get a foothold in new payment services for mobile phones or apps.
BPCE and Twitter declined to provide further details ahead of a news conference in Paris on Tuesday to unveil the service.
Rakuten Bank in Japan offers a similar "Transfer by Facebook" service that lets users of its mobile banking app send money to anyone in their Facebook friends list.
